Market Recap – March 7th
On Tuesday’s trading day, markets plummeted early on, with investors highly strung over the soon-to-release economic data. However, the primary reason for today’s big losses was Jerome Powell, who gave an address that was much more hawkish than the previous months. After the bell, the S&P 500 fell 1.53%, the NASDAQ Composite went down 1.25%, and the Dow Jones declined by 1.72%.
In the automotive space, shares of Rivian had dropped 14.54% after financing issues, where the EV maker was forced to sell $1.3 billion in bonds for new production. In more stellar news, shares of WW, more commonly known as Weight Watchers, grew an astonishing 79.07% following their acquisition of telehealth company Sequence.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.